Shares of Actuant Corp. (NYSE:ATU) have been assigned an average rating of “Hold” from the thirteen research firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.13.
Several equities analysts have recently weighed in on ATU shares. Barclays PLC reiterated an “equal weight” rating and set a $20.00 price objective on shares of Actuant Corp. in a report on Tuesday, July 12th. JPMorgan Chase & Co. cut Actuant Corp. from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $25.00 to $20.00 in a report on Wednesday, June 22nd. Wells Fargo & Co. restated an “outperform” rating on shares of Actuant Corp. in a research note on Friday, June 24th. Zacks Investment Research upgraded Actuant Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Finally, Royal Bank Of Canada cut their target price on Actuant Corp. from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd.
Shares of Actuant Corp. (NYSE:ATU) opened at 22.31 on Wednesday. The company’s market capitalization is $1.31 billion. Actuant Corp. has a 52-week low of $17.02 and a 52-week high of $27.71. The stock has a 50 day moving average price of $23.47 and a 200 day moving average price of $24.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Wednesday, September 28th. Actuant Corp.’s dividend payout ratio (DPR) is -2.34%.
In other Actuant Corp. news, CEO Randal W. Baker bought 10,795 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were acquired at an average cost of $23.14 per share, with a total value of $249,796.30. Following the acquisition, the chief executive officer now owns 63,979 shares of the company’s stock, valued at $1,480,474.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ATU. BlackRock Inc. raised its position in Actuant Corp. by 142.8% in the first quarter. BlackRock Inc. now owns 4,666 shares of the company’s stock worth $115,000 after buying an additional 2,744 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in Actuant Corp. during the second quarter worth $122,000. PineBridge Investments L.P. raised its position in Actuant Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,467 shares of the company’s stock worth $168,000 after buying an additional 269 shares during the last quarter. Teacher Retirement System of Texas raised its position in Actuant Corp. by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 8,243 shares of the company’s stock worth $186,000 after buying an additional 1,283 shares during the last quarter. Finally, Connable Office Inc. raised its position in Actuant Corp. by 0.8% in the first quarter. Connable Office Inc. now owns 8,575 shares of the company’s stock worth $212,000 after buying an additional 70 shares during the last quarter.
About Actuant Corp.
Actuant Corporation is a global diversified company that designs, manufactures and distributes a range of industrial products and systems to various end markets. The Company is organized into three operating segments: Industrial, Energy and Engineered Solutions. The Industrial segment is involved in the design, manufacture and distribution of branded hydraulic and mechanical tools to the maintenance, industrial, infrastructure and production automation markets.
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